OFFSHORE
Why PSG is eyeing Volkswagen and BMW
Reprieve from pension fund obligations may boost European carmakers
One would think carmakers would be out of vogue. They’re struggling with calls to reduce emissions, trying to get consumers to buy (more expensive) electric vehicles, and trying to source critical inputs (such as scarce microchips). But these difficulties haven’t put PSG off taking a closer look at two German behemoths, Volkswagen (VW) and BMW.
“In the current environment, consumer discretionary [stocks] are not a great place to be,” Vaughan Henkel, head of equity research at PSG Wealth, tells the FM. “But we think there are some nice opportunities in European vehicle manufacturers — mainly VW and BMW.”..
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